Brits keen to go green - but only if the price is right

Warren Lewis

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25th November 2016

A new report from OVO energy has revealed that most Brits care about the impact of their energy use on the environment, with over 85% of people making a conscious effort to save energy at home. However, only one in five people would be prepared to pay more money for greener energy.

A third of all people surveyed said that they always try to do what they can to be greener around the home through a number of different measures, such as using energy saving light bulbs, having double glazing or getting their lofts and walls insulated.

Many people are concerned about how green they are at home. Six out of ten people `worry about the impact that their home energy use has on the environment, whilst four out of ten feel they could do more to save energy.

But when asked whether they would pay more for greener energy, Brits are not convinced. Only one in five people said that they would be prepared to see their energy bills increase if it meant a better deal for the environment.

According to the data, those willing to pay more for greener energy would accept an average increase of 17% on their current energy bill and 11% of those willing to pay more would pay an additional 31-50% on their bill for greener energy.

The research also showed that attitudes to paying more for greener energy vary around the country. The report suggested that people in Northern Ireland and London are most likely to pay higher bills for more environmentally friendly energy. Londoners would be happy to pay an average of 22% more for their energy, compared to those in East Anglia, who would pay only 13.97% more.

Households in Wales and the South East of England are least likely to accept a price hike in order to go green.

Age also has an effect on how likely people are to pay to go green

Younger people are most likely to fork out more for environmentally friendly energy. Those aged 18-24 would pay an average of 22% more for their energy than they pay now.

Interestingly, almost a quarter (23%) of 25-34 year olds said they would be willing to pay more for greener energy. However, just 15% of over 55s would be prepared to pay more for their energy if it was better for the environment.

The research also revealed that when it comes to choosing an energy supplier, price is by far and away the most important factor for customers.

Over 70% cited price as the most important factor when choosing energy supplier. Only 6% of people would choose a supplier based on how green it is.

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